Mukmin

Financial Management Behavior refers to the systematic activities involved in predicting, gathering, allocating, investing, and strategizing the cash flow required for a company’s or individual’s efficient functioning. This study aims to examine the role of locus of control in moderating the relationship between financial socialization, financial knowledge, financial experience, and financial management behavior among Paylater users in Medan, North Sumatra, Indonesia. The population of this research is the people of Medan, North Sumatra, Indonesia, who use Paylater. The sampling methodologies utilized were purposive sampling and snowball sampling. A total of 221 individuals participated in data collection for this study. The questionnaires were disseminated using social media chat functions or messaging applications (e.g., WhatsApp, Line, Telegram) in which the Google Forms link is shared. The study employs the data analysis technique of SEM-PLS with the assistance of PLS 4.00 software. The research results show that financial socialization, knowledge, and experience influence financial management behavior (p < 0.05). Furthermore, financial socialization, financial knowledge, and financial experience influence financial management behavior, moderated by locus of control (p < 0.05). The research implications are expected to improve the Financial Management behavior of the Paylater users by providing literacy about managing their finances.

Acknowledgment
This study was funded by the Revenue and Expenditure Budget of the Universitas Muhammadiyah Sumatera Utara following the assignment agreement letter in the context of implementing the Basic Research Program of the Revenue and Expenditure Budget of the Universitas Muhammadiyah Sumatera Utara for the 2023 Fiscal Year, Number: 73/II.3- AU /UMSU-LP2M/C/2023.

Sharia financial literacy pertains to individuals’ capacity to manage their finances, partake in Sharia-compliant agreements, and make investments based on Islamic tenets for long-term prosperity. This study explores the relationship between Sharia financial literacy, financial stress, financial behavior, and financial well-being among Islamic university students in Medan, Indonesia. Three hundred seventy-eight (378) students from various regions of Medan, Indonesia, were used as the research sample. The questionnaires were disseminated using social media chat functions or messaging applications (e.g., WhatsApp, Telegram) in which the Google Forms link is shared. The Likert scale measures indicators in responses to statements and questions. The analysis was conducted using SEM with PLS 3.0 software. The findings show a significant positive effect of Islamic financial literacy on financial behavior and well-being (p < 0.05). However, financial stress does not significantly impact financial behavior and financial well-being (p > 0.05). In addition, financial behavior positively affects financial well-being among university students (p < 0.05). This study also demonstrates that Islamic financial literacy indirectly improves financial well-being through its influence on financial behavior (p < 0.05). However, financial stress does not indirectly affect financial well-being through financial behavior (p > 0.05).

Acknowledgment
This research was funded in 2024 by the Ministry of Education, Culture, Research and Technology of the Republic of Indonesia under the Basic Research – Regular (PF-R) category. Thanks also go out to the different tiers of administration at Universitas Muhammadiyah Sumatera Utara, such as the administration of the School of Economics and Business and the staff at the Institute for Research and Community Service (LPPM).